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Nov 27, 2012
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cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash spending. >> i can cut $600 billion more out of the federal government tomorrow. nobody would know a difference except for the people employed by the programs here in washington, d.c. >> when asked by fox what he would be willing to cut, the senate majority leader didn't offer anything new. >> remember, we have already done more than $1 billion worth of cuts. we have done that. so we need to get some credit for that. and the negotiations that take place. >> 42 business organizations sent this letter to top lawm
cliff. we have fox team coverage. chief washington correspondent james rosen is at the white house to tell us about the president's return to the campaign trail sort of. but we begin with the chief congressional correspondent mike emanuel and another reason that the talk reconciliation so important. good evening, mike. >> good evening. there are strong suggestions that the nation's debt problem may be worse than $16 trillion and counting and key lawmakers are saying it's time to slash...
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Sep 13, 2012
09/12
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it worries the fiscal cliff in washington and debt crisis in europe can hurt the economy. it announceed in effect it will start printing money. again. by buying $40 billion of bonds each month from banks and inves tortoise flood the financial system with especially more cash. >> we're not promising, you know, a cure to all the ills. we can provide support. >> reporter: the fed has done it twice before, buying $2 trillion in bonds since 2008 and claim the move may have cut longer term interest rate by as much as full percentage point. it claims that may have added an extra 3% to economic growth and exra 2 million jobs. savers complained they're earning next to something. they worry that the money printing may lead to inflation. lower rates won't help. >> job creation is function of what they think future holds for them. they respond to that vision of the future. it's murky right now because of the tax increases, meltdown in europe. >> any new economic juice could help president obama over mitt romney ahead of the election. the fed chairman denied any political motive. >> we
it worries the fiscal cliff in washington and debt crisis in europe can hurt the economy. it announceed in effect it will start printing money. again. by buying $40 billion of bonds each month from banks and inves tortoise flood the financial system with especially more cash. >> we're not promising, you know, a cure to all the ills. we can provide support. >> reporter: the fed has done it twice before, buying $2 trillion in bonds since 2008 and claim the move may have cut longer...
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Dec 26, 2012
12/12
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if washington can't come to a deal on the fiscal cliff. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial dollars. $500,000 to $1 million pays $34,000 more. they want $215,000 on top of what you pay in taxes. >> the wealth manager says the money you have left won't go as far as businesses also deal with their own tax hikes. >> you are going to see less money in your paycheck. >> the government has to bite the bullet with $1.2 trillion in spending cuts. more than half of that is to the defense budget. >> they say families may need austerity calculation before making big purchases. look at the money you have and the money you need in the future to decide if you need the next big picture. doug? >> doug: thank you, molly. resi
if washington can't come to a deal on the fiscal cliff. >> you have less money in a difficult economy with little clarity. >> the economy will go down sharply. >> look at the number from the tax policy center. this is the average tax hit the families take on top of what they pay on taxes. those make between $40,000 and $50,000 pay extra $1700. >> if you manage to make over $200,000, it will be a big jump up. you will need to send a check to uncle sam for $14,000 initial...
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Dec 31, 2012
12/12
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for a deal here in washington. politicians self-imposed fiscal cliff. the effort to make the consequences so unattractive for missing that, that both sides would have to come to agreement. at this hour, there is no legislation to vote on yet. there is every indication officially it's over that cliff we go. some things are settled. others are still in flux. that is where it starts to get technical. so let's bring in fox team coverage to straighten it out. chief white house correspondent ed henry looks at messaging and movement from president obama today. first, chief congressional correspondent mike emanuel on what seems to have been settled and how and what is still up in the air at this late hour. hi, mike. >> hi. bret. we hear from the republican senators they are optimistic and hopeful that a vote can happen sometime, perhaps later tonight. senator mitch mcconnell e-mailed and said he thought the deal was done until the white house called to say the sequestered cuts should be turned off. since then, she trying to find a way to bye down months of the
for a deal here in washington. politicians self-imposed fiscal cliff. the effort to make the consequences so unattractive for missing that, that both sides would have to come to agreement. at this hour, there is no legislation to vote on yet. there is every indication officially it's over that cliff we go. some things are settled. others are still in flux. that is where it starts to get technical. so let's bring in fox team coverage to straighten it out. chief white house correspondent ed henry...
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Dec 7, 2012
12/12
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get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create jobs which nancy pelosi is looking for are looking for political will out of washington. they are looking for certainty on the fiscal cliff. certainty that debt reduction, there will be debt reduction, that entitlements will be brought under control. looking for certainty on taxe taxes. until this happens, there isn't going to be that certainly. i have to say that the republicans showed the political will. they stood up, to the conservative base. they put the re-knews on the table. what troubles me -- now that the ball is in the white hou
get to the fiscal cliff in a second. but first, the job report this morning, 7.7% unemployment because so many people left the workforce. 146,000 jobs. the question a lot of people are asking is when are we going get back to good honest job creation to grow the economy? what is it going to take? >> political will in a word. what is interesting about the jobs numbers and the economy in general is that it's not so much the fundamentals of the economy. businesses who hire people who create...
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Dec 6, 2012
12/12
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is on the looming fiscal cliff. president obama administration is quietly handing over billions of dollars to the united nations in the name of global warming. >> that was the opening salvo of a recorded message that was sent to qatar where they joined 200 countries around the world this week at a united nations climate issue summit. negotiations continue regarding a large scale climate treaty to be signed by 2015. while the u.s. senate would have to ratify any international treaty by two-third vote, inhalf says he and others are more concerned about the domestic regulations. he continued to press white house about why the administration failed to issue reports on pending regulations in april and october as required by law. the white house wouldn't explain the last to us, the source says the federal agencies are in the process of pulling together that information. bret? >> bret: thank you. there are a lot of extremely happy people in washington state tonight at the stroke of midnight, hundreds lit up under the seatt
is on the looming fiscal cliff. president obama administration is quietly handing over billions of dollars to the united nations in the name of global warming. >> that was the opening salvo of a recorded message that was sent to qatar where they joined 200 countries around the world this week at a united nations climate issue summit. negotiations continue regarding a large scale climate treaty to be signed by 2015. while the u.s. senate would have to ratify any international treaty by...
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Dec 27, 2012
12/12
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fiscal cliff negotiations as if to signify how america wants the parties to come together. starbucks barristas today are hand signing each of the coffee cup with the words "come together." anything will do at this point. bring in the panel. steve hayes for "weekly standard." a.b. stoddard, associate editor of the hill. sindcated columnist charles krauthammer. a.b., the res tent numbers-cruncher. what do you make of the back and forth today? >> today was about the drama on both sides and blame game and showing they were going to come and call e want to get down to business before december 31, which is monday. we're not, there are no plans. no paperwork. there are conflicting reports about the meeting. it's all kind of depressing. when you poke arp you find out that the house is returning on sunday. but beyond that, nobody knows anything. >> doug: steve? >> yeah. today, nothing happened other than people using warn-out talking points and a lot of misinformation. harry reid is still blaming grover norquist. send him a memo that norquist took himself out of the discussion a wee
fiscal cliff negotiations as if to signify how america wants the parties to come together. starbucks barristas today are hand signing each of the coffee cup with the words "come together." anything will do at this point. bring in the panel. steve hayes for "weekly standard." a.b. stoddard, associate editor of the hill. sindcated columnist charles krauthammer. a.b., the res tent numbers-cruncher. what do you make of the back and forth today? >> today was about the drama...
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Dec 25, 2012
12/12
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washington did not get a fiscal cliff deal for christmas so that means president obama and lawmakers will need to kick it to overdrive to get something done by new year's. this is easier said than done. >> after weeks of bitterness, this is not a contest of the parties between who looks good and who doesn't. >> the only thing both sides agree on now is christmas may provide a cooling off period. >> ebb can drink eggnog. have christmas cookies. sing christmas carols. enjoy company of loved ones. >> hope springers eternal. >> when the christmas trees come down tomorrow from waikiki beach and elsewhere, the nation will be staring at the cliff that economists warned could spark a new recession. the fact is both sides are further apart than the holiday messages suggest. this puts the speaker in a box leading to collapse of plan "a" of $4 trillion debt deal and the slimmeded-down plan "b." >> in the course, i offered to compromise with republicans in congress. i met them halfway on taxes and more than halfway on spen spending. >> boehner is saying that the stumbling block will lead to taxe
washington did not get a fiscal cliff deal for christmas so that means president obama and lawmakers will need to kick it to overdrive to get something done by new year's. this is easier said than done. >> after weeks of bitterness, this is not a contest of the parties between who looks good and who doesn't. >> the only thing both sides agree on now is christmas may provide a cooling off period. >> ebb can drink eggnog. have christmas cookies. sing christmas carols. enjoy...
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Dec 17, 2012
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. >> you know that argument about the fiscal cliff is raging here in washington. another potential show down is underway. this one is about how to fund the recovery from hurricane sandy. the senate gandhi bait over a suppleme -- senate debated. house republicans and fiscal conservatives are resisting saying sandy relief money needs to be offset with cuts elsewhere. >>> as the fracking revolution continues to boom here in the u.s. the energy department is hard at work on a proposal they say would maximize profits by exporting natural gas. a senior correspondent john roberts reports it is a situation setting up unusual partnerships. >> when is success a bad thing? just ask the natural gas industry. the shale gas revolution fracking as it is called has been so successful the u.s. has been swamped. >> shale gas took off the domestic crisis plunged $14 per mill to as low as 2. the gas industry asked the feds permission to build 13 terminals to liquefy natural gas for the lucrative export market. >> by exporting we create more jobs and create more economic activity and
. >> you know that argument about the fiscal cliff is raging here in washington. another potential show down is underway. this one is about how to fund the recovery from hurricane sandy. the senate gandhi bait over a suppleme -- senate debated. house republicans and fiscal conservatives are resisting saying sandy relief money needs to be offset with cuts elsewhere. >>> as the fracking revolution continues to boom here in the u.s. the energy department is hard at work on a...
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Nov 28, 2012
11/12
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. >> in washington, james rosen, fox news. >> bret: are we going over the cliff? if an when the president and congress do reach a deal on the fiscal cliff, what will it look like? we'll get some thoughts from the fox all-stars when we return. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ >>> right now, as we speak, congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. so we really need to get this right. i can only do it with the help of the american people. so, tweet, what was that again? my2k. do what it takes to communicate a sense of urgency. we don't have a lot of time here. >> in order to come to an agreement, republicans are willing to put revenue on the table. time for the president and the democrats to get serious about the spending problem that our country has. >> bret: some of the back and forth today the president calling on people
. >> in washington, james rosen, fox news. >> bret: are we going over the cliff? if an when the president and congress do reach a deal on the fiscal cliff, what will it look like? we'll get some thoughts from the fox all-stars when we return. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪...
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Nov 14, 2012
11/12
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"washington post" pew poll. if we go over the fiscal cliff we will blame republicans. really, obama, the ball is in the republican's court. they may not like that. i think that is the truth. obama is in the driver's seat. >> chris: charles krauthammer i would love for you to react to that. he wants a big deal and comprehensive deal. i thought quite open about the idea he was willing to put entitlement and reform on the table. >> we said in the past he never proposed anything. perhaps he will do it. i don't know. i disagree with what check said about obama hamming the cards. obama is not running again. it's not going to help him if his popularity increases. he wrecks the american economy. by sending in to a recession by going over the cliff. it's terrible policy to do what would happen unless obama yids somewhat in his deman on the higher rates. we will have defense cuts and destroy the military and cause res ig neigh on principle and end us to recession and not solve the entitlement program. we have the worst economy. entitlement out of control and cuts in discretionar
"washington post" pew poll. if we go over the fiscal cliff we will blame republicans. really, obama, the ball is in the republican's court. they may not like that. i think that is the truth. obama is in the driver's seat. >> chris: charles krauthammer i would love for you to react to that. he wants a big deal and comprehensive deal. i thought quite open about the idea he was willing to put entitlement and reform on the table. >> we said in the past he never proposed...
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Nov 22, 2012
11/12
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but it's washington that will decide what's going to be traded to avoid the fiscal cliff and i can guarantee that obamacare will not be involved in those-- >> i agree with na part. >> and until next year. >> all right. panel, stick around. up next, holiday shopping, wal-mart and the fight over unions, it's not over. wish a happy thanksgiving, i love you so much and back home. >> i wanted to truly wish everyone a happy thanksgiving and a special shout out to my precious wife and my family back home in virginia. but before i leave i want to say one thing, have an attitude of gratitude. with verizon. hurry in this friday for great deals. like the droid razr by motorola in cranberry, free. or a white 7-inch samsung galaxy tab 2, just $99.99. this friday, get the best deals on the best devices on the best network. exclusively at verizon. >> time and time again our associates conclude that they don't need a deal. that they appreciate the opportunities at wal-mart and we appreciate our associates, we can't have a black friday event without an associate. >> pay is an issue for some of us, a lot of u
but it's washington that will decide what's going to be traded to avoid the fiscal cliff and i can guarantee that obamacare will not be involved in those-- >> i agree with na part. >> and until next year. >> all right. panel, stick around. up next, holiday shopping, wal-mart and the fight over unions, it's not over. wish a happy thanksgiving, i love you so much and back home. >> i wanted to truly wish everyone a happy thanksgiving and a special shout out to my precious...
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Dec 28, 2012
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. >>> as we talk about, there is a clear tuition over the fiscal cliff. they are working on the legislation, they will watch another battle on sunday. >> we are going to vote sunday night. probably watch the skins-cowboys game. >> washington and dallas play sunday night with the nfc east title on the line. the father played for the redskins in the 1930s. they were in boston at the time. >> most of the fiscal cliff is focused on the impact on the wallet and economy at large, another huge aspect involves a deal to get sequestration and some learn it could cause lasting daniel to military. molly henneberg has the details. >> the cuts will hit across the board. every department in the army, navy, air force, marines and coast guard and they will be steep. of the $1.2 trillion in total spending cuts over nine years, $492 billion come from the pentagon. defense analysts say the impact on the military would be serious. >> the pentagon and the department are already in financial trouble. because there has already been $480 billion cut. to take another cut is devas
. >>> as we talk about, there is a clear tuition over the fiscal cliff. they are working on the legislation, they will watch another battle on sunday. >> we are going to vote sunday night. probably watch the skins-cowboys game. >> washington and dallas play sunday night with the nfc east title on the line. the father played for the redskins in the 1930s. they were in boston at the time. >> most of the fiscal cliff is focused on the impact on the wallet and economy at...
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Dec 13, 2012
12/12
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that would deal with chunk of the so-called fiscal cliff. >> while the white house has been confident the president has the upper hand, a new nbc/"wall street journal" poll suggests otherwise. asks who gets the blame if washington goes off the cliff? 19% said the president and democrats. 24% said republican. and 56% said they would be equally do blame. >> now the president just did a series of local tv interviews to put more pressure on john boehner and the republicans. in one of the interviews he said look, he has cut $1 trillion in spending. he is willing to do in the president's words a lot more. he still wants a big deal in the neighborhood of $4 trillion. we'll see if he and the speaker behind closed doors can get there. bret? >> bret: more on susan rice. and the fiscal cliff with the panel. but before we let you go, ed, what is the news about the president's new cabinet? there is news about that. >> chuck hague the former republican senator is now the leading contender for defense secretary. leon panetta expected to step down soon. the bottom line, he and the president met behin
that would deal with chunk of the so-called fiscal cliff. >> while the white house has been confident the president has the upper hand, a new nbc/"wall street journal" poll suggests otherwise. asks who gets the blame if washington goes off the cliff? 19% said the president and democrats. 24% said republican. and 56% said they would be equally do blame. >> now the president just did a series of local tv interviews to put more pressure on john boehner and the republicans. in...
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Dec 21, 2012
12/12
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where are we now on the fiscal cliff stalemate. the fox all-stars coming up on the latest development. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> i just spoke to speaker boehner. and i also met with senator reid. in the next few days i asked leaders of congress to work toward the package that prevents a tax hike on middle class americans, protects unemployment insurance for 2 million americans. and lays the groundwork for further work on both growth and deficit reduction. that is an achievable goal. as we leigh town for a few days to be with the families for the holidays, i hope it gives everybody perspective. everybody can cool off. everybody can drink some eggnog. >> obama about an hour ago encouraging lawmakers to go home for the holiday, come back and get a deal done to avoid the fiscal cliff. bring in the panel. steve hayes for "weekly standard" with us, as well as a.b. stoddard associate editor of the hill. syndicated
where are we now on the fiscal cliff stalemate. the fox all-stars coming up on the latest development. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. >>> i just spoke to speaker boehner. and i also met with senator reid. in the next few days i asked leaders of congress to work toward the package that prevents a tax hike on middle class americans, protects unemployment insurance for 2...
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Nov 16, 2012
11/12
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here at home, we're now about a month and a half away from the fiscal cliff, the massive tax hikes and spending cuts that threaten to push the economy back into recession. lawmakers in washington met with the president today in a first step to try to find a way back from the abyss. chief washington correspondent james rosen tells us how it went. >> with that, we're going to get to work. >> the president hosting leaders from both parties and chambers of congress at the roosevelt room and appears to be sticking to his guns on taxes for higher income earningsers, own obliquely reining in entitlement spending. >> my hope is this going to be the beginning of a fruitful process where we're able to come to an agreement that will reduce our deficit, in a balanced way, that we will deal with some of these long-term impediments to growth. >> after the hour long session, republicans said nothing to signal acquiescence in any tax bracket and insisting higher revenues can come from the closure of tax loopholes. to show our seriousness, we put revenue on the table as long as it's accompanied by sign
here at home, we're now about a month and a half away from the fiscal cliff, the massive tax hikes and spending cuts that threaten to push the economy back into recession. lawmakers in washington met with the president today in a first step to try to find a way back from the abyss. chief washington correspondent james rosen tells us how it went. >> with that, we're going to get to work. >> the president hosting leaders from both parties and chambers of congress at the roosevelt room...
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Oct 18, 2012
10/12
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is the fiscal cliff. it's fast approaching. chief white house correspondent ed henry reports tonight on the latest salvos in this big game of political chicken. >> a fresh threat from the white house that president obama will veto any bill delaying the so-called fiscal cliff. unless republicans agree to raise taxes on the rich. central piece of his case against romney. >> he is wrong. i'm not going to ask middle class families to give up your deductions on a home mortgage. or your deductions for raising a kid. just to pay for another millionaire's tax cuts. >> republican speaker john boehner fired back today the president has failed to sit down with him for months. >> delaying any plan to halt both the massive defensive spending cut and increase to bush tax rate coming at the end of the year. >> no leadership when it comes to the fiscal cliff we'll face. tax rate going up january 1. sequester on january 2. or need to increase debt limit in middle of february. president has been awol. campaigning since a y
is the fiscal cliff. it's fast approaching. chief white house correspondent ed henry reports tonight on the latest salvos in this big game of political chicken. >> a fresh threat from the white house that president obama will veto any bill delaying the so-called fiscal cliff. unless republicans agree to raise taxes on the rich. central piece of his case against romney. >> he is wrong. i'm not going to ask middle class families to give up your deductions on a home mortgage. or your...
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Dec 12, 2012
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impending fiscal cliff. the democrats continue to portray the g.o.p. as the grinch. who wants to steal not christmas but a middle class tax cut. tonight, charges and countercharges from chief white house correspondent ed henry. >> officials now say speaker john boehner's phone call to president obama was tense, hopes of a possible deal seem to be fading fast. >> i remain the most optimistic person in this town, but we've got some serious differences. >> the biggest difference is over taxes. republicans complain in an interview with abc news the president made it harder for boehner to sell compromise to republicans by saying the only way to go forward is for the speaker to cave. >> i'm confident republicans would not hold middle class taxes hostage to try to protect the tax cuts for high-income individuals. >> white house officials today incested the president was merely reiterating a long-held position and said the hold up is the republicans failing to get specific about taxes. >> closing loopholeles they wi
impending fiscal cliff. the democrats continue to portray the g.o.p. as the grinch. who wants to steal not christmas but a middle class tax cut. tonight, charges and countercharges from chief white house correspondent ed henry. >> officials now say speaker john boehner's phone call to president obama was tense, hopes of a possible deal seem to be fading fast. >> i remain the most optimistic person in this town, but we've got some serious differences. >> the biggest difference...
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Dec 20, 2012
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moments away from a house vote on boehner, way out of the fiscal cliff. it's important not only as a sign of where the negotiations are now but also for boehner personally. we have fox team coverage tonight. chief washington correspondent ed henry will cover the president's strategy. chief congressional correspondent mike emanuel looks at the politics of plan "b" from congress' perspective. >> good evening. this is a heavy lift with numerous conservative groups urging republicans to vote against speaker boehner's plan "b." but with the u.s. economy less than two weeks from the fiscal cliff, top republicans say they are trying to avoid a massive tax hike for everybody. >> the house will act today. up to senate democrats in the white house to act. >> it would extend tax cut on income below $1 million. to secure republican support, the house is voting on a separate measure to cancel next year's pentagon cuts part of sequestration by slashing domestic programs. that upset house democrats. >> the bills are not a plan. they are a ploy. they are bills to nowhere
moments away from a house vote on boehner, way out of the fiscal cliff. it's important not only as a sign of where the negotiations are now but also for boehner personally. we have fox team coverage tonight. chief washington correspondent ed henry will cover the president's strategy. chief congressional correspondent mike emanuel looks at the politics of plan "b" from congress' perspective. >> good evening. this is a heavy lift with numerous conservative groups urging...
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Nov 13, 2012
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. >> worries about the upcoming fiscal cliff and lowered forecast for demand recently put a dent in price per barrel. the biggest threat major drop in oil prices and increase regulations and taxation. >> we are making contact with senators in washington, d.c. >> it's the heart of the country where the activity is full throttle. >> the oil companies are spending $2 billion a month on their investment, just to drill well here. >> north dakota profit from the oil and gas development is estimated $1.6 billion budget surplus. north dakota department of mineral resources says it's been booming because there is not a lot of federal land. the state has a high percentage of privately owned property. plus the state has a history of being business friendly. bret? >> bret: alicia acuna in denver. thank you. still ahead, the controversial figures who might be up for cabinet posts. first, their homes are uninhabitable. that is just the beginning. how to stay healthy in a tetch rare shelter. e probably gonna double. but, dad, you've got... [ voice of dennis ] allstate. with accident forgiveness, they gu
. >> worries about the upcoming fiscal cliff and lowered forecast for demand recently put a dent in price per barrel. the biggest threat major drop in oil prices and increase regulations and taxation. >> we are making contact with senators in washington, d.c. >> it's the heart of the country where the activity is full throttle. >> the oil companies are spending $2 billion a month on their investment, just to drill well here. >> north dakota profit from the oil and...
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Nov 26, 2012
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i'm referring to the so-called fiscal cliff. you may have heard about it. it's the simultaneous convergence of tax increases and spending cuts designed to pressure lawmakers accepting other negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates.
i'm referring to the so-called fiscal cliff. you may have heard about it. it's the simultaneous convergence of tax increases and spending cuts designed to pressure lawmakers accepting other negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten...